Benchmarking of Personal Rapid Transit System (Dynamic Model)

Abstract

Abstract PRT is an efficient rapid transit system which provides the last mile connectivity to the users with a high level of reliability and comfort. There is absence of existing benchmarks for PRT in both India and abroad. Dwarka, New Delhi, in India has been taken as the case study area for carrying out the feasibility study of PRT. Primary and secondary data has been collected for the planning of PRT. The base year trips and logit model outputs have been used for the travel demand estimation. Different international and Indian case studies have been reviewed to understand the operations and costs associated with PRT systems. A detailed financial analysis has been carried out for the formulation of benchmarks. The analysis results obtained from the dynamic model can be used to predict various parameters including the base year trips for a specified fare to achieve internal rate of return (IRR) of 18%, which is considered as the optimum IRR for investing in a project. This dynamic model for benchmarking of PRT systems has been developed using Visual Basic scripting overlay on a standard financial analysis model. The Model works on the inputs of Demand, Operational and Financial Parameters. Each of the seventeen input factors can be tweaked using slider bars in the model to see how a change in any of the variables will impact the financial feasibility of the project. The Model has been validated using the data on PRT studies for Amritsar and Trivandrum. The Model can be used to justify the development of PRT in any other city in India. The Model works on the inputs of Demand, Operational and Financial Parameters.